派欧云 PPIO，中国最大独立边缘云计算服务商，递交IPO招股书，拟赴香港上市

Core Viewpoint - PPLabs Technology Limited, operating as Paio Cloud, is preparing for an IPO on the Hong Kong Stock Exchange, aiming to leverage its position as a leading independent distributed cloud computing service provider in China [3][5]. Company Overview - Established in 2018, Paio Cloud is recognized for its extensive global computing resource network, providing comprehensive solutions from basic cloud computing to AI inference computing services [5]. - By the end of 2024, Paio Cloud is projected to operate the largest computing network in China, with over 4,000 computing nodes covering more than 1,200 cities [5]. Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was reported as RMB 286 million, RMB 358 million, and RMB 558 million respectively, indicating a growth trajectory [13]. - Despite revenue growth, the net losses for the same years were RMB 85 million, RMB 189 million, and RMB 294 million, highlighting ongoing financial challenges [13]. Service Offerings - Paio Cloud offers a range of services including: - Edge Cloud Computing Services, which integrate third-party heterogeneous computing resources to meet customer needs for edge computing [5][8]. - AI Cloud Computing Services, launched in 2023, utilizing distributed GPU resources to lower costs and technical barriers for global clients [6][8]. Market Position - As of May 2025, Paio Cloud's average daily token consumption reached 141.9 billion, ranking it among the top two independent AI cloud computing service providers in China [5]. Shareholder Structure - Prior to the IPO, the major shareholders include Mr. Yao Xin and Ms. Lü Shanshan, holding approximately 50.61% of the shares, with other notable investors such as Millennium and CCV Fund [10][9]. Management Team - The board consists of seven members, including three executive directors and three independent non-executive directors, with Mr. Yao Xin serving as the CEO [12][14].